BNB/USD pared some of its gains due to profit-booking. It hit a high of $782.10 yesterday and is currently trading around $758.80. Short-term trend remains bullish as long as support $600 holds. It trades above the 55 an…
BNB/USD pared some of its gains due to profit-booking. It hit a high of $782.10 yesterday and is currently trading around $758.80.
Short-term trend remains bullish as long as support $600 holds. It trades above the 55 and 34, 200 and 365 EMA on the 4-hour chart. Near-term support is around $740; any close below targets $700/$670/$650/$644/$628/$598/$570/$520. If the pair closes below $500, it potentially leads to further declines towards $400.
Immediate Resistance is at $785.Any breakout above this resistance confirms bullish momentum and a jump towards $800/$1000.
Indicators ( 4-hour Chart)
Directional Movement Index: Neutral
CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $730 with a stop-loss set at $700 and a target price of $800/$1000.
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